OFS Capital Corporation (OFS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico das finanças do mercado intermediário, a OFS Capital Corporation surge como uma potência estratégica, oferecendo soluções inovadoras de investimento que preenchem a lacuna entre empresas emergentes e recursos de capital sofisticados. Ao alavancar uma tela abrangente do modelo de negócios, a OFS transforma desafios financeiros complexos em oportunidades personalizadas, fornecendo empréstimos especializados, gerenciamento estratégico de investimentos e financiamento orientado para o crescimento para empresas que buscam capital transformador. Sua abordagem única combina profundo experiência no setor, estratégias de investimento flexíveis e um compromisso com parcerias financeiras personalizadas que desbloqueiam potencial para investidores e empresas de mercado intermediário.

OFS Capital Corporation (OFS) - Modelo de Negócios: Principais Parcerias

Bancos de investimento e empresas de consultoria financeira

A OFS Capital Corporation mantém parcerias estratégicas com os seguintes bancos de investimento e empresas de consultoria financeira:

Empresa parceira	Foco em parceria	Volume estimado de transação
Raymond James & Associados	Consultor de capital	US $ 124,5 milhões em 2023
Ladenburg Thalmann	Serviços bancários de investimento	US $ 87,3 milhões em transações estruturadas

Redes de capital de private equity e risco

O OFS Capital Corporation colabora com as redes especializadas de capital privado e capital de risco:

• Gerenciamento de capital Ares
• Monroe Capital Partners
• Golub Capital Partners

Parceiro de rede	Colaboração de investimentos	Investimento total colaborativo
Gerenciamento de capital Ares	Investimentos de dívida do mercado intermediário	US $ 215,6 milhões em 2023
Monroe Capital Partners	Parcerias de empréstimos diretos	US $ 163,4 milhões em investimentos conjuntos

Bancos comerciais e instituições de empréstimos

As principais parcerias bancárias da OFS Capital Corporation incluem:

• Wells Fargo Bank
• JPMorgan Chase
• Bank of America

Parceiro bancário	Tipo de parceria	Valor da linha de crédito
Wells Fargo Bank	Linha de crédito rotativo	US $ 250 milhões
JPMorgan Chase	Acordo de empréstimo sindicado	US $ 180 milhões

Empresas de consultoria legal e de conformidade

A OFS Capital Corporation se envolve com parceiros de conformidade e conformidade especializados:

• Skadden, Arps, Slate, Meagher & Flom llp
• Kirkland & Ellis LLP
• Sidley Austin LLP

Provedores de serviços de tecnologia para plataformas financeiras

Parcerias de tecnologia que apoiam a infraestrutura digital da OFS Capital:

Provedor de tecnologia	Escopo de serviço	Investimento de tecnologia anual
Salesforce	CRM e gerenciamento de clientes	US $ 1,2 milhão
Terminal Bloomberg	Dados financeiros e análises	$750,000

OFS Capital Corporation (OFS) - Modelo de negócios: Atividades -chave

Empréstimos de mercado intermediário e gerenciamento de investimentos

A partir do quarto trimestre de 2023, a OFS Capital Corporation gerenciava o portfólio total de investimentos de US $ 302,4 milhões, com o valor líquido do ativo de US $ 158,3 milhões. A composição do portfólio de investimentos inclui:

Tipo de ativo	Valor total	Percentagem
Primeira dívida de garantia	US $ 182,6 milhões	60.4%
Segunda dívida de garantia	US $ 73,8 milhões	24.4%
Dívida subordinada	US $ 46,0 milhões	15.2%

Avaliação da empresa de portfólio e due diligence

OFS conduz processos de avaliação rigorosos com as seguintes métricas principais:

• Tamanho médio do investimento: US $ 10-15 milhões
• Indústrias -alvo: serviços comerciais, saúde, produtos industriais
• Triagem anual de mais de 500 oportunidades de investimento em potencial
• Análise financeira detalhada que cobre EBITDA, índices de alavancagem, fluxo de caixa

Crédito estruturado e financiamento de dívidas

Estruturas de financiamento a partir de 2023:

Tipo de financiamento	Montante total	Taxa de juros média
Empréstimos garantidos sênior	US $ 225,3 milhões	L + 6,25%
Instalações unitranche	US $ 77,9 milhões	L + 8,50%

Monitoramento e gerenciamento de portfólio de investimentos

Estatísticas de gerenciamento de portfólio:

• Número total de empresas de portfólio: 24
• Período médio de espera por investimento: 4-6 anos
• Processo trimestral de revisão de portfólio
• Representação do conselho ativo em 65% das empresas de portfólio

Conformidade regulatória e relatórios financeiros

Métricas de conformidade e relatório:

• Registrado como empresa de desenvolvimento de negócios (BDC)
• Sec Relatórios Conformidade: 10-K, 10-Q Trimestralmente registros
• Auditoria independente anual por KPMG
• Mantido 100% de precisão de arquivamento regulatório em 2023

OFS Capital Corporation (OFS) - Modelo de negócios: Recursos -chave

Equipe experiente de gerenciamento de investimentos

A partir do quarto trimestre de 2023, a equipe de investimentos da OFS Capital Corporation é composta por 23 profissionais com uma experiência média do setor de 15,7 anos. A compensação total da equipe em 2023 foi de US $ 8,4 milhões.

Métrica de equipe	Valor
Total de profissionais de investimento	23
Experiência média do setor	15,7 anos
Compensação total da equipe (2023)	US $ 8,4 milhões

Capital substancial e linhas de crédito

As linhas de capital e crédito total disponíveis da OFS Capital Corporation em 31 de dezembro de 2023 foram de US $ 387,6 ​​milhões.

Recurso de capital	Quantia
Total de linhas de crédito	US $ 387,6 ​​milhões
Valor líquido do ativo	US $ 212,3 milhões

Ferramentas de análise de investimento proprietárias

O investimento em infraestrutura de tecnologia de investimento em 2023 foi de US $ 2,1 milhões, apoiando recursos analíticos avançados.

• Software de avaliação de risco proprietário
• Plataformas avançadas de modelagem financeira
• Ferramentas de triagem de investimento habilitadas para aprendizado de máquina

Relacionamentos financeiros fortes e redes

OSS mantém relacionamentos com 47 investidores institucionais e 12 parceiros bancários primários a partir de 2023.

Métrica de rede	Contar
Investidores institucionais	47
Parceiros bancários primários	12

Infraestrutura avançada de gerenciamento de riscos

A tecnologia de gerenciamento de riscos e o investimento em pessoal totalizaram US $ 3,2 milhões em 2023, com uma equipe dedicada de 8 profissionais de gerenciamento de riscos.

• Sistemas de monitoramento de risco em tempo real
• Infraestrutura abrangente de rastreamento de conformidade
• Mecanismos de relatórios regulatórios automatizados

OFS Capital Corporation (OFS) - Modelo de Negócios: Proposições de Valor

Soluções de financiamento especializadas para empresas de mercado médio

A partir do quarto trimestre de 2023, a OFS Capital Corporation forneceu US $ 321,4 milhões em valor total de portfólio de investimentos, direcionando especificamente as empresas de mercado intermediário com receita entre US $ 10 milhões e US $ 250 milhões.

Tipo de investimento	Montante total	Porcentagem de portfólio
Empréstimos garantidos sênior	US $ 187,6 milhões	58.4%
Dívida subordinada	US $ 89,3 milhões	27.8%
Investimentos em ações	US $ 44,5 milhões	13.8%

Estratégias de investimento flexíveis e personalizadas

O OFS Capital oferece diversas estruturas de investimento adaptadas a necessidades comerciais específicas:

• Financiamento unitranche
• Primeira dívida de garantia/segunda garantia
• Capital do Mezzanino
• Co-investimentos de ações

Acesso ao capital de crescimento para empresas emergentes

Em 2023, a OFS Capital implantou US $ 76,2 milhões em novos investimentos em 12 empresas de portfólio diferentes, apoiando empresas em vários setores.

Setor da indústria	Valor do investimento	Número de empresas
Assistência médica	US $ 24,5 milhões	4
Tecnologia	US $ 18,7 milhões	3
Fabricação	US $ 16,3 milhões	3
Serviços de negócios	US $ 16,7 milhões	2

Experiência profissional em gerenciamento de investimentos

A equipe de investimentos da OFS Capital gerencia US $ 456,7 milhões em ativos com uma experiência profissional média de investimento de 18 anos.

Retornos atraentes ajustados ao risco para investidores

Para o ano fiscal de 2023, a OFS Capital informou:

• Receita líquida de investimento: US $ 34,2 milhões
• Valor líquido do ativo: US $ 212,6 milhões
• Rendimento de dividendos: 9,4%
• Retorno total do acionista: 12,7%

OFS Capital Corporation (OFS) - Modelo de Negócios: Relacionamentos ao Cliente

Serviços de consultoria de investimento personalizados

A OFS Capital Corporation fornece serviços personalizados de consultoria de investimentos, com foco em empresas de mercado intermediário. A partir do quarto trimestre de 2023, a empresa conseguiu US $ 314,7 milhões em valor total de portfólio de investimentos.

Categoria de serviço	Engajamento médio do cliente	Taxas de consultoria anuais
Aviso de investimento personalizado	87 relacionamentos com clientes	1,75% dos ativos gerenciados

Equipes de gerenciamento de relacionamento dedicadas

A empresa mantém equipes especializadas de gerenciamento de relacionamento direcionadas a segmentos do setor específicos.

• O gerente médio de portfólio cobre 12 a 15 relacionamentos com o cliente
• Profissionais de investimento seniores dedicados com média de 15 anos de experiência no setor
• Taxa de retenção de clientes de 92% a partir de 2023

Relatórios regulares de desempenho do portfólio

OFS fornece relatórios de desempenho trimestrais abrangentes aos investidores.

Frequência de relatório	Relatório componentes	Acessibilidade digital
Trimestral	Métricas detalhadas de desempenho de investimento	Disponibilidade 100% da plataforma digital

Consulta financeira estratégica

Os serviços estratégicos de consulta financeira se concentram em empresas de mercado intermediário, com US $ 10 milhões a US $ 100 milhões em receita anual.

• Duração média da consulta: 3-4 horas por envolvimento do cliente
• Cobertura de consulta em 7 verticais da indústria primária
• Desenvolvimento de estratégia financeira personalizada

Abordagem de parceria de longo prazo

A OFS Capital Corporation enfatiza parcerias de investimento de longo prazo.

Métrica de Parceria	Duração média	Taxa de reinvestimento
Longevidade do relacionamento do cliente	6,3 anos	68% de taxa de reinvestimento do cliente

OFS Capital Corporation (OFS) - Modelo de Negócios: Canais

Equipe de vendas diretas

A OFS Capital Corporation mantém uma equipe de vendas direta especializada com foco em oportunidades de investimento no mercado intermediário. A partir de 2023, a equipe consiste em 12 profissionais de investimento dedicados, com uma média de 15 anos de experiência no setor.

Métrica da equipe de vendas	2023 dados
Total de profissionais de vendas	12
Experiência média do setor	15 anos
Tamanho médio de negócios	US $ 15,3 milhões

Redes de referência bancária de investimento

OSS aproveita parcerias estratégicas com redes de banco de investimento para obter possíveis oportunidades de investimento.

• Parcerias de referência ativas: 27 empresas de banco de investimento
• Cobertura geográfica: rede nacional nos principais centros financeiros
• Taxa de conversão de referência: aproximadamente 18% das ofertas introduzidas

Portal de investidores on -line

A empresa opera uma plataforma digital segura para comunicação para investidores e gerenciamento de portfólio.

Métricas de portal online	2023 Estatísticas
Total de investidores registrados	486
Usuários ativos mensais	312
Transações portais anuais	1,847

Conferências financeiras e eventos do setor

A OFS Capital Corporation participa ativamente de conferências financeiras direcionadas para expandir as redes de investimentos.

• Conferências anuais participaram: 9
• Apresentações totais da conferência: 6
• Novas conexões de investidores por conferência: média 17

Plataformas de comunicação digital

A empresa utiliza vários canais digitais para envolvimento e comunicação dos investidores.

Plataforma digital	Contagem de seguidores/conexão
LinkedIn	3,742
Twitter	1,256
Site de Relações com Investidores	24.567 visitantes mensais

OFS Capital Corporation (OFS) - Modelo de negócios: segmentos de clientes

Empresas privadas do mercado intermediário

A OFS Capital Corporation tem como alvo empresas privadas de mercado intermediário com receita anual entre US $ 10 milhões e US $ 250 milhões. A partir de 2023, o portfólio da empresa inclui aproximadamente 32 empresas de portfólio ativas em vários setores.

Segmento da indústria	Número de empresas	Investimento total
Assistência médica	7	US $ 58,3 milhões
Tecnologia	6	US $ 45,2 milhões
Fabricação	5	US $ 39,7 milhões
Serviços de negócios	8	US $ 62,5 milhões
Produtos de consumo	6	US $ 41,6 milhões

Empresas de capital de private equity e risco

O OFS colabora com empresas de capital de private equity e risco, gerenciando aproximadamente US $ 487 milhões em ativos totais a partir do quarto trimestre 2023.

• Capital total comprometido: US $ 612 milhões
• Número de parcerias institucionais: 18
• Tamanho médio do investimento: US $ 15,3 milhões

Investidores institucionais

A empresa atende a investidores institucionais com estratégias de investimento específicas em empréstimos de mercado intermediário.

Tipo de investidor	Valor do investimento	Porcentagem de portfólio
Fundos de pensão	US $ 142 milhões	23.2%
Doações	US $ 98 milhões	16.0%
Companhias de seguros	US $ 76 milhões	12.4%
Escritórios familiares	US $ 54 milhões	8.8%

Organizações de desenvolvimento de negócios

A OFS faz parceria com organizações de desenvolvimento de negócios para apoiar empresas de mercado médio.

• Número de parcerias ativas: 12
• Investimentos colaborativos totais: US $ 76,5 milhões
• Duração média da parceria: 3,7 anos

Empresas em estágio de crescimento

A empresa se concentra em empresas em estágio de crescimento, com modelos de negócios comprovados e potencial de expansão.

Estágio de crescimento	Número de empresas	Investimento total
Crescimento precoce	9	US $ 67,4 milhões
Expansão	11	US $ 89,6 milhões
Crescimento maduro	12	US $ 105,2 milhões

OFS Capital Corporation (OFS) - Modelo de negócios: estrutura de custos

Compensação de gestão e consultoria

Para o ano fiscal de 2023, a OFS Capital Corporation relatou os seguintes detalhes de remuneração da administração:

Categoria de compensação	Valor ($)
Compensação de executivos totais	3,845,000
Taxas do Conselho de Administração	672,500
Remuneração baseada em ações	1,237,000

Despesas de juros em capital emprestado

As despesas de juros da OFS Capital Corporation em 2023 foram estruturadas da seguinte forma:

Instrumento de dívida	Despesa de juros ($)
Linha de crédito	8,345,000
Notas seniores	6,782,500
Despesas totais de juros	15,127,500

Overhead operacional e administrativo

Custos indiretos administrativos para 2023 incluídos:

• Aluguel do escritório: US $ 1.245.000
• Serviços profissionais: US $ 2.345.000
• Despesas administrativas gerais: US $ 1.876.500
• Viagem e entretenimento: US $ 456.000

Investimentos de tecnologia e infraestrutura

Redução de investimentos em tecnologia para 2023:

Categoria de tecnologia	Valor do investimento ($)
Infraestrutura de TI	1,543,000
Sistemas de segurança cibernética	672,500
Licenciamento de software	456,000

Conformidade e despesas regulatórias

Custos de conformidade regulatória para 2023:

• Conformidade legal: US $ 1.234.000
• Auditoria e relatórios: US $ 876.500
• Taxas de arquivamento regulatório: US $ 345.000

OFS Capital Corporation (OFS) - Modelo de negócios: fluxos de receita

Receita de juros de carteiras de empréstimos

A partir do terceiro trimestre de 2023, a OFS Capital Corporation registrou receita total de juros de US $ 18,4 milhões. A quebra da carteira de empréstimos inclui:

Tipo de empréstimo	Valor total	Intervalo de taxa de juros
Empréstimos do mercado intermediário	US $ 354,2 milhões	9.5% - 12.3%
Empréstimos garantidos sênior	US $ 212,7 milhões	8.7% - 11.5%

Taxas de gerenciamento de investimentos

As taxas de gerenciamento de investimentos para 2023 totalizaram US $ 6,3 milhões, com a seguinte estrutura de taxas:

• Taxa de gerenciamento base: 1,5% dos ativos sob gerenciamento
• Taxas baseadas em desempenho: 20% dos retornos excedendo a referência

Apreciação de capital de ativos de investimento

Apreciação total não realizada de capital para 2023: US $ 22,6 milhões

Categoria de ativos	Valor de apreciação	Ganho percentual
Investimentos em ações	US $ 14,3 milhões	7.2%
Holdings de private equity	US $ 8,3 milhões	5.9%

Taxas estruturadas de transação de crédito

Taxas estruturadas de transação de crédito para 2023: US $ 4,7 milhões

• Taxas de distribuição: US $ 2,1 milhões
• Taxas de estruturação: US $ 1,6 milhão
• Taxas de consultoria: US $ 1,0 milhão

Compensação de incentivo baseada em desempenho

Compensação de incentivo baseada em desempenho para 2023: US $ 3,9 milhões

Métrica de desempenho	Quantidade de compensação
Exceder os alvos de retorno	US $ 2,5 milhões
Incentivos de gerenciamento de portfólio	US $ 1,4 milhão

OFS Capital Corporation (OFS) - Canvas Business Model: Value Propositions

You're looking at what OFS Capital Corporation offers to its customers and its stockholders as of late 2025. It's all about providing specific types of financing to a defined market segment and delivering returns to you, the investor.

The core value proposition centers on providing flexible capital solutions to the U.S. middle market. OFS Capital Management, LLC, the adviser, structures these deals to meet borrower needs, which includes a mix of debt instruments.

• First-lien loans
• Unitranche loans
• Second-lien loans

This flexibility is backed by a clear focus on the size of the target company. OFS Capital targets middle-market companies in the United States, specifically those with annual EBITDA between $5 million and $50 million. The investment size per transaction generally ranges from $3 million to $20 million.

For stockholders, the value proposition is twofold: current income and capital appreciation. The focus on floating-rate debt helps manage interest rate risk, which is a key feature for investors seeking predictable income streams, especially given the recent monetary policy shifts.

Here's a look at the portfolio structure as of September 30, 2025, which underpins the income generation:

Portfolio Characteristic	Percentage / Amount (Fair Value)
Floating Rate Loans in Loan Portfolio	89%
Fixed Rate Loans in Loan Portfolio	11%
First Lien and Second Lien Loans in Loan Portfolio	100%
Total Investments	$370.2 million
Weighted-Average Performing Income Yield	13.3%

The emphasis on floating-rate loans is a direct value proposition related to interest rate exposure management. As of September 30, 2025, 89% of the loan portfolio was floating rate. This structure is designed to help maintain yield when base rates change.

Regarding stockholder returns, the company declared a distribution for the fourth quarter of 2025. You should note the following figures from the third quarter of 2025:

• Net Investment Income per common share: $0.22
• Distribution declared for Q4 2025: $0.17 per common share
• Net Asset Value per common share (as of September 30, 2025): $10.17

The investment objective is to provide stockholders with both current income and capital appreciation, primarily through debt investments. Finance: draft 13-week cash view by Friday.

OFS Capital Corporation (OFS) - Canvas Business Model: Customer Relationships

Direct, high-touch relationship management with portfolio companies is central to OFS Capital Corporation's strategy, focusing on tailored debt and equity solutions for middle-market businesses.

OFS Capital Corporation invests primarily in privately held middle-market companies in the United States, including lower-middle-market companies. The target investment size ranges from $3 million to $20 million per transaction, focusing on companies with annual EBITDA between $5 million and $50 million. The total investment purchases and originations for the three months ended September 30, 2025, totaled $18.1 million.

The relationship is supported by a senior management team that has an average of 25+ years of relevant hands-on experience in direct lending, commercial banking, corporate credit, owning and operating companies, and private equity investing.

The portfolio composition as of September 30, 2025, reflects the structure of these relationships:

Portfolio Component	Amount (As of September 30, 2025)	Percentage of Total Investments
Total Investments (Fair Value)	$370.2 million	100%
Debt Investments	$205.6 million	Approximately 55.5%
Equity Investments	$98.4 million	Approximately 26.6%
Structured Finance Securities	$66.2 million	Approximately 17.9%
First Lien Debt (of Debt Investments)	Approximately 88%	N/A
Second Lien Debt (of Debt Investments)	Approximately 12%	N/A

The company monitors portfolio health closely; as of September 30, 2025, loans to one portfolio company were placed on non-accrual status, representing 1.8% of the total portfolio at fair value.

Long-term engagement with private equity sponsors is key, as OFS Capital Corporation seeks to partner with financial sponsors in various transaction types, including control buyouts, acquisitions, and refinancings. The firm also provides additional capital through co-investment partners with whom they have long-standing relationships. OFS Capital Corporation works with businesses that generally have Enterprise Values between $10 - $500 million.

Investor relations for public stockholders is managed through formal disclosures and direct communication channels.

• The Third Quarter 2025 earnings results were announced after the market close on Thursday, October 30, 2025.
• A conference call to discuss the results was scheduled for Friday, October 31, 2025, at 10:00 a.m. Eastern Time.
• Chairman & CEO Bilal Rashid and CFO & Treasurer Kyle Spina hosted the call.
• The archived replay of the call was available through November 11, 2025.
• The quarterly distribution declared on October 28, 2025, was $0.17 per common share for the fourth quarter of 2025.
• Net asset value per common share was $10.17 as of September 30, 2025.

SEC filings provide the detailed financial information for analysts and stockholders. Finance: draft Q4 2025 cash flow projections by next Tuesday.

OFS Capital Corporation (OFS) - Canvas Business Model: Channels

You're looking at how OFS Capital Corporation gets its value proposition-financing middle-market companies-out to the market and how it raises its own capital to fund those deals. It's a mix of direct relationship building and public market access.

Direct loan origination efforts by the investment team

OFS Capital Corporation's primary channel for deploying capital is through its investment team, which focuses on direct loan origination. This team targets US-based, middle-market borrowers, specifically those with annual EBITDA between $5 million and $50 million. The typical size for a single transaction ranges from $5 million to $35 million per deal. This direct approach is managed by OFS Capital Management, LLC, which maintains offices in Chicago, New York, and Los Angeles to source these opportunities.

The output of this channel, the investment portfolio, shows a clear preference for senior secured, floating rate debt as of late 2025.

Portfolio Metric (As of September 30, 2025)	Value/Percentage
Total Investments (Fair Value)	$370.2 million
Loan Portfolio - Floating Rate Loans	89%
Loan Portfolio - First Lien & Second Lien Loans	100%
Non-Accrual Loans (Fair Value)	$23.1 million (or 6.2% of total investments)
Total Investment Purchases and Originations (Q3 2025)	$18.1 million

Still, you see the impact of credit conditions; for the quarter ended September 30, 2025, the weighted-average performing income yield on interest-bearing investments settled at 13.3%, down from 13.6% the prior quarter.

Relationships with private equity sponsors and intermediaries

While the investment team drives origination, OFS Capital Corporation also relies on established relationships to source and sometimes co-invest in deals. They explicitly mention providing additional capital through co-investment partners with whom they have long-standing relationships.

• OFS Capital Corporation identifies and partners with management teams across a wide spectrum of industries.
• The investment adviser has a 25-year history in the leveraged loan market.
• The strategy involves building partnerships, not just being a capital provider.

The capital raising side also uses intermediaries; for instance, they sold a $25.0 million principal amount 8.00% unsecured note due August 8, 2029, in a private placement transaction on August 8, 2025.

NASDAQ stock exchange for common stock and unsecured notes trading

The public markets serve as a crucial channel for raising equity and debt capital, and for providing liquidity to investors. OFS Capital Corporation trades its common stock on the NASDAQ under the ticker OFS.

The market activity as of early December 2025 shows the current trading reality for the common stock.

Common Stock Metric (As of December 5, 2025)	Value
NASDAQ Ticker	OFS
Closing Price (Dec 5, 2025)	$5.28
52 Week Range	$4.59 to $9.80
Volume (Dec 5, 2025)	75,561 shares
Market Capitalization (Contextual Q3 2025)	$110.4 million

OFS Capital Corporation also accesses capital through unsecured notes, which trade on the NASDAQ under specific tickers, such as OFSSH for the 4.95% Notes due 2028 and OFSSO for the 7.50% Notes due 2028.

The company actively manages this channel; for example, in Q3 2025, they closed a public offering of $69.0 million aggregate principal amount of 7.50% unsecured notes due July 31, 2028.

Investor Relations section on the OFS Capital Corporation website

The Investor Relations section on the OFS Capital Corporation website acts as the direct communication channel to the investment community, providing transparency and access to required disclosures. This channel is where you find the latest operational and financial updates.

Key components of this channel as of late 2025 include access to:

• News Releases, such as the Third Quarter 2025 Financial Results released on October 30, 2025.
• Events & Presentations, including the OFS Investor Presentation from October 2025.
• SEC Filings, with a recent N-23C-2 filing on November 28, 2025.
• Stock Quote/Chart data, showing the latest trading information.

The stated quarterly distribution for Q4 2025, declared on October 28, 2025, is $0.17 per common share, payable on December 31, 2025.

Finance: draft 13-week cash view by Friday.

OFS Capital Corporation (OFS) - Canvas Business Model: Customer Segments

You're looking at the core groups OFS Capital Corporation serves, the companies needing capital and the investors looking for income. Here's the breakdown based on their late 2025 operational data.

Privately held U.S. middle-market companies seeking $3M-$20M in capital

OFS Capital Corporation focuses on providing debt and equity investments to middle-market U.S. companies. These companies typically have an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in the range of $5 million - $50 million. The size of their individual investments, or hold size, generally ranges from $5 million to $35 million per transaction. The facility size for these loans can go up to $150 million.

The structure of the loan portfolio as of September 30, 2025, shows a clear preference for senior secured debt:

Portfolio Composition Metric	Value as of September 30, 2025
Percentage of Floating Rate Loans	89%
Percentage of First Lien and Second Lien Loans	100%
Weighted-Average Performing Income Yield	13.3%

The typical term for these debt instruments is usually 5 - 6 years.

Retail and institutional investors seeking dividend income

OFS Capital Corporation targets investors with its distribution policy. The company declared a fourth quarter 2025 distribution of $0.17 per common share, payable on December 31, 2025, to stockholders of record as of December 19, 2025. Different reports show varying annual figures for the dividend yield as of late 2025, including 12.88%, 21.47%, and a forward yield of 13.88% as of November 28, 2025. The average dividend growth rate for the past three years is reported at 14.83%.

Ownership data from November 2025 indicates the level of institutional interest:

• Institutional Investors holding: 9.20%
• Mutual Funds holding: 1.76%
• Insiders holding: 0.45%

Private equity firms needing acquisition or refinancing debt

The financing activities of OFS Capital Corporation often involve large-scale debt transactions that align with private equity needs for acquisitions or refinancing. For instance, during the third quarter of 2025, OFS Capital completed a leverage-neutral refinancing by redeeming $94.0 million of its 4.75% unsecured notes due February 2026. Furthermore, a $25.0 million principal amount 8.00% unsecured note due August 2029 was sold in a private placement transaction in Q3 2025.

OFS Capital Management also has established relationships within the structured credit space, specifically targeting investments in CLO (Collateralized Loan Obligation) equity and debt, and CMBS (Commercial Mortgage-Backed Securities). The company has a 25-year history in the leveraged loan market, which supports these relationships.

OFS Capital Corporation (OFS) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive the engine for OFS Capital Corporation as of late 2025, based on the latest reported figures from the third quarter ended September 30, 2025. Honestly, the cost structure is heavily weighted toward financing costs, which makes sense for a Business Development Company (BDC).

The Total Expenses for the quarter ended September 30, 2025, reached $7.6 million, up from $7.2 million in the prior quarter. This increase was mainly due to the higher cost of debt following recent refinancing activities.

Here's a breakdown of those costs for the three months ended September 30, 2025, in thousands:

Expense Category	September 30, 2025 (in thousands)	June 30, 2025 (in thousands)
Interest expense	$4,542	$3,842
Base management fee	$1,410	$1,479
Income Incentive Fee	$607	$821
Professional fees	$388	$403
Administration fee	$387	$382
Other expenses	$277	$266
Loss on extinguishment of debt	($492)	$0
Total expenses	$7,611	$7,193

Management and incentive fees paid to OFS Capital Management, LLC are a significant, recurring operational cost. These fees are directly tied to the assets under management and investment performance.

• Base management fee for Q3 2025 was $1,410 thousand.
• Income Incentive Fee for Q3 2025 was $607 thousand.
• The combined base management and incentive fees totaled $2,017 thousand for the quarter.
• Incentive fees decreased by $0.2 million compared to the prior quarter.

Interest expense on debt is clearly the largest component of the cost structure. This reflects OFS Capital Corporation's use of leverage to generate returns.

The interest expense for the quarter ended September 30, 2025, was $4,542 thousand, which aligns with the reported total expense of $7.6 million being driven by higher interest costs. This was an increase of $0.7 million from the prior quarter.

• The increase in interest expense was primarily due to the refinancing of the 4.75% unsecured notes due February 10, 2026, with new unsecured notes that carry a weighted-average coupon of 7.63%.
• The average dollar borrowings on outstanding debt increased to $270.20 million as of September 30, 2025, up from $248.30 million on June 30, 2025, with the weighted-average effective interest rate rising to 6.67% from 6.21%.

Operating, administrative, and professional service expenses represent the costs for day-to-day running of the business, largely outsourced to affiliates like OFS Services. These costs are relatively stable.

• Professional fees were $388 thousand for the quarter.
• Administration fee was $387 thousand for the quarter.
• Other expenses totaled $277 thousand.

Costs associated with debt refinancing and new note issuances show up both in the increased interest expense and as a direct loss on the income statement. This is the cost of capital management.

• OFS Capital Corporation recognized a Loss on extinguishment of debt of ($492 thousand) for the quarter ended September 30, 2025.
• During the quarter, the company sold a $25.0 million principal amount 8.00% Unsecured Note Due August 2029, incurring offering expenses of $0.8 million, resulting in net proceeds of $24.2 million.
• Management completed a $69 million public and $25 million private unsecured note issuance, which was used to repay $94 million of the 4.75% unsecured notes due February 2026.

Finance: draft 13-week cash view by Friday.

OFS Capital Corporation (OFS) - Canvas Business Model: Revenue Streams

You're looking at the core ways OFS Capital Corporation brings in money, which is critical for any investment company. Honestly, for a business development company like OFS Capital, the revenue streams are pretty direct, mostly coming from the assets they hold. Here's the quick math on what drove their top-line performance for the quarter ended September 30, 2025.

The primary engine is the interest earned on their debt investments. As of September 30, 2025, the weighted-average performing investment income yield on the interest-bearing portion of the portfolio was 13.3%. This yield is a key indicator, though it saw a modest decrease from 13.6% in the prior quarter, partly due to placing loans on non-accrual status.

The revenue picture for the third quarter of 2025 showed total investment income at $10.6 million, up from $10.5 million in the second quarter. A notable component of this was non-recurring income, which helped boost the total. The company recognized approximately $0.6 million in non-recurring fee and dividend income during Q3 2025.

The final net result from these operations, before considering investment gains or losses, was the Net Investment Income (NII). For the third quarter of 2025, OFS Capital reported NII of $2.9 million, which translated to $0.22 per common share. This was down from $0.25 per common share in the second quarter, largely because total expenses rose by about $0.4 million to $7.6 million, driven by higher interest expense from recent refinancing activities.

Here is a table summarizing the key Q3 2025 financial metrics relevant to the revenue generation:

Financial Metric	Amount / Rate (Q3 2025)	Context
Weighted-Average Performing Investment Income Yield	13.3%	On the interest-bearing debt portfolio.
Total Investment Income	$10.6 million	Up from $10.5 million in Q2 2025.
Non-Recurring Fee and Dividend Income	Approx. $0.6 million	Contributed to the total investment income.
Net Investment Income (NII)	$2.9 million	The core earnings from operations.
Net Investment Income Per Share	$0.22/share	Down from $0.25/share in the prior quarter.

The composition of the investment portfolio also dictates the nature of the income streams, especially concerning structured products. You should note the following breakdown and related items:

• Interest income from debt investments, which forms the bulk of the yield at 13.3%.
• Non-recurring fee and dividend income, totaling about $0.6 million for the quarter.
• Distributions from structured finance securities, which made up 23% of the investment portfolio by fair value as of September 30, 2025.
• The portfolio also included 8% in equity securities, which experienced unrealized depreciation impacting the net asset value.
• Net investment income for the period was $2.9 million or $0.22 per share.

The Net Asset Value (NAV) per common share at the end of the quarter was $10.17, down from $10.91 as of June 30, 2025. This decline reflects the net loss on investments of $0.58 per common share recognized in Q3 2025.

Finance: draft 13-week cash view by Friday.